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<h1>Central Government Empowered to Formulate Rules Under Section 63 of Competition Act 2002 for Effective Implementation</h1> Section 63 of the Competition Act, 2002 grants the Central Government the authority to create rules necessary for implementing the Act's provisions. These rules can address various aspects, such as the value of assets or turnover in mergers, voting rights, criteria for combinations, selection processes for committees, and terms of service for officials. Additionally, the rules may cover the preparation of financial statements, the submission of reports, and the handling of appeals. Any rules or notifications issued must be presented to Parliament, which can modify or annul them without affecting prior actions taken under those rules.